WEB Loans Processing Limited (07275227): administration
- Status
- Administration ended
- Administration began
- 2013-11-28
- Formerly
- WEB Loan Processing Limited; Toothfairy Finance Limited
- Incorporated
- 2010-06-07
- Location
- London
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Administrators
The company commenced trading in September 2011 as a provider of short term or “payday” loans The loans were offered for sums from £50 up to a maximum of £450, for up to a 42 day period
The company mainly sourced enquiries from lead providers and historically made short term lends under a number of brands, including Toothfairy Finance, Community Payday, Speed Credit, Pay Check Credit and Easy Finance Club Applications for finance could be made online or by text
Administrators' statement of proposals (2013-12-12) · Companies House register